Overview

• Bloomberg reported that China Mineral Resources Group asked steelmakers and traders to halt new purchases of BHP’s dollar‑denominated seaborne cargoes after talks failed to yield agreement.
• The step would expand earlier curbs on BHP’s Jimblebar fines, with reports that some buyers were told not to take delivery or trade those shipments onshore.
• BHP declined to comment on commercial negotiations, CMRG did not respond to requests for comment, and Chinese industry outlet Mysteel said no formal order had been issued.
• Australian Prime Minister Anthony Albanese voiced concern and urged unhindered iron ore trade, while Treasurer Jim Chalmers said he will meet BHP CEO Mike Henry.
• Markets reacted to the reports, with iron ore futures in Singapore rising and BHP shares falling in London and slipping on the ASX, as analysts framed the move as leverage in pricing talks.